Robinhood CEO Vladimir Tenev Believes that Dogecoin May Become 'Future Currency' of the Internet

Robinhood CEO Vladimir Tenev believes that the crypto meme coin DOGE could be a "future currency of the internet" someday, according to his latest tweet on Thursday afternoon, Apr. 14.

Dogecoin Will Be Internet's Future Currency

As Coin Telegraph recently spotted on Twitter, Robinhood's Tenev wrote a 12-thread post about using this meme coin as a valuable crypto asset on the internet.

The 35-year-old Bulgarian entrepreneur started by citing the transaction fees for the Dogecoin, which roughly hit $0.003 for every transaction. According to him, this alone could place this crypto as a good e-cash altcoin.

Moreover, Tenev shared how Dogecoin could be improved over time. Specifically, he pointed out that this meme cryptocurrency's block time and size should undergo development so many users could adopt it worldwide.

As a matter of fact, the total throughput stands of Dogecoin could reach nearly 40 transactions per second (TPS). Coin Telegraph was able to make a comparison of it with VISA, which establishes about 65,000 TPS. Still, there's a lot of catching up that DOGE will do if it wants to generate more transactions.

As a solution, Tenev said that to address this concern, the block size limit of Dogecoin should increase to 1GB from 1MB. Later, it will be improved to 10GB.

For his final post on his recent thread, the Robinhood CEO urged the Dogecoin developers to be aware of these things. Most importantly, they need to look after improving its block size limit as their top priority.

As of writing, the post already has 1,330 retweets and over 7,100 likes.

Meanwhile, Robinhood officially listed four cryptocurrencies on its platform, including Shiba Inu (SHIB), Polygon (MATIC), Compound (COMP), and Solana (SOL), per Bitcoin.com.

Dogecoin Creator Takes Swipes at Elon Musk

Following this report, Dogecoin creator Jackson Palmer criticized Elon Musk for being "hostile" in taking over Twitter. The controversy stirred when the Tesla boss said that he would prioritize cutting down on crypto scam tweets.

"It takes some pretty impressive mental gymnastics to associate any type of freedom with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private," Palmer tweeted out on his official social media account.

That's not the last time Palmer hit Musk with his words. Back in mid-may of 2021, the Dogecoin maker lambasted the former "Dogecoin CEO" for this viral Saturday Night Live performance.

He said that Musk was a "self-absorbed grifter" and that the latter's act was cringe-worthy.

Elsewhere, Tech Times reported that Amazon head Andy Jassy shared his sentiments about the cryptocurrency payments on the platform. Although he cast his doubts about these digital coins, the NFTs have the upper hand to improve "significantly" in the future.

Jassy also said that he does not own cryptocurrency assets, particularly Bitcoin.

This article is owned by Tech Times

Written by Joseph Henry